eBridge News
eBridge Procurement hosted a large fuel reverse auction in the state of North Carolina. 14 vendors participated in the reverse auction, which allowed the entity to receive 3,740+ bids on the fuel line items. eBridge excels in helping entities find market price for bulk fuel purchasing.
Fuels
- 14 Vendors
- 3,744 Lowering Bids
- 668 First Place Takeovers
- Lowest Spread between 1st - 2nd Place was 0.01%
The reverse auction event lasted for a combined 14 hours, which allowed the entity to find current market level pricing for their massive bulk fuel purchase. The statistics from the event prove reverse auctions create the most competitive bid environments for public entities making bulk commodity purchases.
During the event, the 1st and 2nd place vendors changed 668 times. Which is what allowed the entity to see a 0.01% difference between the 1st and 2nd place vendor's bids. Anytime the spread between the 1st and 2nd place vendors is below 2%, eBridge considers the reverse auction a success.
eBridge continues to expand the use of reverse auctions for public entities across the United States. If you would like to view full results from other fuel reverse auctions, click here to view our press release with
eBridge Procurement hosted a reverse auction for a school district in the state of Florida. 9 vendors participated in the reverse auction which allowed the school district to receive over 360+ lowering bids. The heightened vendor activity allowed the school district to recognize a difference of 0.040% between the first and second place vendors.
Statistics from the Gasoline & Diesel Reverse Auction:
- 9 Vendors
- 364 Lowering Bids
- 37 First Place Turnovers
This reverse auction lasted for 44 minutes, allowing the school district to receive competitive pricing on their line items. The statistics from the bidding event show reverse auctions are the best way for school districts to find current market pricing for their commodity and services purchasing process.
eBridge has found success helping school districts find market pricing for large annual fuel bids across the United States.
If you are interested in learning more about our public procurement reverse auction tool, you can reach out to our President by clicking this link here.
BLOOMINGTON, IN, UNITED STATES, November 21, 2024 /EINPresswire.com/ -- City of Bloomington Utilities (CBU) has a mission to enhance the quality of life in their community by providing safe, sustainable, and high-quality drinking water, wastewater and stormwater services in a cost-effective manner. With focus on promoting public health, economic vitality, and environmental stewardship, Bloomington continues to achieve these goals with transparency.
For more than a decade, CBU has partnered with eBridge Procurement to retain high quality while keeping costs under control on their water treatment chemical purchases. eBridge Procurement is a leading provider of full-service reverse auctions. In a reverse auction, the roles of the buyer and vendor are reversed, and it replaces the traditional one price per vendor response. Vendors compete in a live, sealed, online auction by placing multiple lowering prices for a buyer’s product or service. Vendors only see their current bid and their rank compared to other vendors. Buyers then can award to the lowest vendor or on best overall value.
After years of measurable results, CBU reached out to eBridge in hopes of increasing competition amongst qualifying vendors. “Working with eBridge has been a high-quality and efficient process “said Holly McLauchlin, CBU Communication Manager.
Once vendor responses were reviewed to ensure all chemical agencies met the required scope needed to take part, each was invited to participate in phase 2, the live reverse auction. On October 30, 2024, 21 vendors logged in to the eBridge bidding platform to compete for Bloomington’s business on various water treatment chemicals. After just an hour and nine minutes of live bidding the reverse auction concluded with over 833 lowering bids, 212 first-place takeovers and a 13.66% reduction from previous pricing.
eBridge’s President, Cindy Sisloff, said, “We are honored to have worked with Bloomington Utilities for the past 11 years to help contain cost and limit inflation on their chemical purchases.”
About eBridge Procurement
eBridge Procurement located in Louisville, KY is a leading provider of full-service reverse auctions working with over 250 public agencies in 40 states on tens of thousands of reverse auctions. We leverage years of experience to help procurement professionals contain costs and obtain the best pricing from qualified suppliers. With no direct cost to our clients, we offer strategic supplier sourcing, customized bid layouts, personalized support, and live supplier training. Our web-based platform requires no software to purchase or learn. We are proud of the millions of taxpayers and corporate dollars saved through cost reductions and purchasing efficiencies using eBridge reverse auctions.
Click here to view the original press release.
Cindy Sisloff
eBridge Procurement
+1 877-245-8880
email us here
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CHARLOTTE, NC, USA, August 22, 2024 /EINPresswire.com/ -- eBridge Procurement, announced today that President, Cindy Sisloff, will speak at the National Institute of Governmental Purchasing (NIGP): The Institute for Public Procurement Forum 2024.
On August 26, at 11:30 am in Innovation Theater I, Sisloff will present “Reverse Auctions: A Powerful Negotiation Tool for Your Toolbox,” an interactive discussion that includes a demonstration of a reverse auction in action.
eBridge will also be present throughout the event as an exhibitor and can be found at booth #1320 in the event’s Exhibit Hall. NIGP Forum 2024 will be held in Charlotte, NC from Aug. 25-28 at the Charlotte Convention Center.
About eBridge & Reverse Auction
eBridge has been shaping the nature of reverse auction practice in the government setting since 2007. Sisloff has overseen thousands of reverse auctions for governments entities in 34 states. eBridge Procurement is the reverse auction provider for the Commonwealth of Kentucky, the state of North Carolina and the state of Nebraska.
eBridge utilizes its proprietary, web-based, sealed bidding platform to allow vendors to compete for agency’s contracts by placing multiple lowering bids, in real time. This dynamic bidding process replaces the traditional static process of a one-bid-per-vendor response. Vendors only see their current bid and their rank compared to other vendors. The platform increases savings and competition for member agencies and the procurement process follows and adheres to all government rules and regulations.
Click here to view the original press release.
Cindy Sisloff
eBridge Procurement
+1 877-245-8880
Email Us
Visit us on social media:
LinkedIn
YouTube